Gold prices moved down by 0.43 per cent to Rs 29,941 per 10 gram in futures trade, after participants offloaded partial positions, taking weak cues from the global market.

At the Multi Commodity Exchange, gold for delivery in December eased by Rs 129, or 0.43 per cent, to Rs 29,941 per 10 gram in business turnover of 372 lots. Likewise, the metal for delivery in far-month February next year shed Rs 103, or 0.35 per cent, to Rs 29,329 per 10 gm in 34 lots.

Market analysts said a weak trend in the overseas markets after the US Federal Reserve signalled that policy makers may reduce monthly bond purchases in the coming months, mainly weighed on gold futures here.

Globally, gold fell 2.54 per cent to $1,242.80 an ounce in New York on Wednesday.